Loxam Announces the Acquisition of the Danish Equipment Rental Operations of Cramo

18.7.2017 14:55 | Business Wire

Del

Loxam Group (“Loxam”) announces the acquisition of the Danish
equipment rental operations of Cramo Plc (“Cramo”). The transaction is
structured as an asset deal whereby all assets belonging to Cramo’s
Equipment Rental operations in Denmark, including rental equipment,
inventory, customer contracts and lease contracts for the seven branches
are acquired by Loxam. Employees attached to the activity will join
Loxam. In 2016, sales of the acquired perimeter amounted to DKK 149
million (EUR 20 million). Cramo will retain its existing Danish modular
building rental business (‘Modular Space’).

This transaction enables Loxam to consolidate its position among the
leaders in the Danish equipment rental market, where it has been present
since 2007 and currently operates 24 branches.

Gérard Déprez, President of Loxam states: “I am pleased towelcome
Cramo Denmark’s experienced employees into the Loxam group. Together we
will join forces to provide our customers with the best possible service
through an expanded network, and build a reference company in the Danish
equipment rental market.”

“The decision to divest our Equipment Rental in Denmark is in line
with Cramo’s new strategy Shape and Share, which aims towards a leading
position in all Cramo markets. In the future, we will focus our
investments on the potential in our Modular Space offering in Denmark”, says
Leif Gustafsson, President and CEO of CramoGroup.

The transaction is subject to closing conditions and is expected to be
completed by 31 August 2017.

About LOXAMLoxam is the market leader in the
rental of equipment and tooling for building, public works and industry,
with pro forma turnover of 1.3 billion euros in 2016 and a workforce of
more than 7,300 employees. Its network of 750 branches extends across 21
countries on 4 continents: in Europe (France, Germany, United Kingdom,
Ireland, Belgium, Switzerland, Spain, Portugal, Luxembourg, the
Netherlands, Denmark and Norway), and also in Africa (Morocco), Latin
America (Brazil and Colombia) and the Middle East (Saudi Arabia,
Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates).

About CRAMOCramo is Europe’s second largest
rental services company specialising in construction machinery and
equipment rental and rental-related services as well as the rental of
modular space. Cramo operates in fifteen countries and in about 324
depots. With a group staff around 2,600, Cramo’s consolidated sales in
2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.